Renaissance Technologies LLC Sells 7,700 Shares of BRT Apartments Corp. (NYSE:BRT)

Renaissance Technologies LLC lessened its stake in shares of BRT Apartments Corp. (NYSE:BRT) by 1.8% in the second quarter, Holdings Channel reports. The institutional investor owned 430,191 shares of the financial services provider’s stock after selling 7,700 shares during the period. Renaissance Technologies LLC’s holdings in BRT Apartments were worth $7,515,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new position in shares of BRT Apartments in the 2nd quarter worth about $28,000. BNP Paribas Financial Markets grew its holdings in shares of BRT Apartments by 187.0% during the first quarter. BNP Paribas Financial Markets now owns 8,263 shares of the financial services provider’s stock valued at $139,000 after buying an additional 5,384 shares during the last quarter. Clear Creek Financial Management LLC increased its position in shares of BRT Apartments by 4.7% during the second quarter. Clear Creek Financial Management LLC now owns 15,021 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 680 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in BRT Apartments by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,466 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 1,726 shares during the last quarter. Finally, ClariVest Asset Management LLC lifted its position in BRT Apartments by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 44,767 shares of the financial services provider’s stock valued at $782,000 after acquiring an additional 1,251 shares in the last quarter. Hedge funds and other institutional investors own 29.07% of the company’s stock.

BRT Apartments Price Performance

BRT opened at $17.98 on Thursday. The company’s 50-day simple moving average is $18.37 and its two-hundred day simple moving average is $17.68. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $335.17 million, a P/E ratio of 81.73, a P/E/G ratio of 2.16 and a beta of 1.07. BRT Apartments Corp. has a 52-week low of $15.21 and a 52-week high of $20.12.

BRT Apartments (NYSE:BRT) last issued its quarterly earnings data on Friday, August 9th. The financial services provider reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.50). BRT Apartments had a negative net margin of 9.24% and a negative return on equity of 3.89%. The company had revenue of $23.86 million for the quarter, compared to the consensus estimate of $23.45 million. During the same quarter last year, the company earned $0.37 EPS. As a group, analysts predict that BRT Apartments Corp. will post 1.42 EPS for the current year.

BRT Apartments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 24th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.56%. The ex-dividend date is Tuesday, September 24th. BRT Apartments’s payout ratio is currently 454.55%.

Analyst Upgrades and Downgrades

Separately, B. Riley lifted their target price on BRT Apartments from $20.50 to $21.00 and gave the stock a “buy” rating in a report on Thursday, September 12th.

BRT Apartments Profile

BRT is a real estate investment trust that owns, operates and, to a lesser extent, holds interests in joint ventures that own multi-family properties. As of December 31, 2023, BRT owns or has interests in 28 multi-family properties with 7,707 units in 11 states.